Colombia: Grape Wine Spirits Market 2024

Grape Wine Spirits Market Size in Colombia

The Colombian grape wine spirits market contracted to $X in 2022, dropping by -2.1% against the previous year. Overall, consumption, however, continues to indicate a relatively flat trend pattern. Grape wine spirits consumption peaked at $X in 2018; however, from 2019 to 2022, consumption remained at a lower figure.

Grape Wine Spirits Production in Colombia

In value terms, grape wine spirits production declined to $X in 2022 estimated in export price. Overall, production, however, saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2017 when the production volume increased by 49% against the previous year. Grape wine spirits production peaked at $X in 2018; however, from 2019 to 2022, production stood at a somewhat lower figure.

Grape Wine Spirits Exports

Exports from Colombia

In 2022, shipments abroad of spirits obtained from distilled grape wine or grape marc increased by 1.8% to X litres for the first time since 2018, thus ending a three-year declining trend. In general, exports, however, faced a dramatic shrinkage. The most prominent rate of growth was recorded in 2016 with an increase of 226% against the previous year. Over the period under review, the exports hit record highs at X litres in 2013; however, from 2014 to 2022, the exports remained at a lower figure.

In value terms, grape wine spirits exports totaled $X in 2022. Over the period under review, exports, however, continue to indicate a sharp descent. The most prominent rate of growth was recorded in 2016 when exports increased by 213% against the previous year. The exports peaked at $X in 2013; however, from 2014 to 2022, the exports failed to regain momentum.

Exports by Country

Chile (X litres) was the main destination for grape wine spirits exports from Colombia, with a 70% share of total exports. Moreover, grape wine spirits exports to Chile exceeded the volume sent to the second major destination, Ecuador (X litres), threefold. The third position in this ranking was held by Panama (X litres), with a 5.8% share.

From 2012 to 2022, the average annual growth rate of volume to Chile totaled +82.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: Ecuador (-22.0% per year) and Panama (-51.1% per year).

In value terms, Chile ($X) remains the key foreign market for spirits obtained from distilled grape wine or grape marc exports from Colombia, comprising 50% of total exports. The second position in the ranking was held by Ecuador ($X), with a 17% share of total exports. It was followed by Panama, with a 5.9% share.

From 2012 to 2022, the average annual growth rate of value to Chile stood at +33.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: Ecuador (-21.9% per year) and Panama (-48.7% per year).

Export Prices by Country

In 2022, the average grape wine spirits export price amounted to $X per litre, standing approx. at the previous year. Over the period under review, the export price, however, saw a noticeable expansion. The pace of growth was the most pronounced in 2015 an increase of 156%. The export price peaked at $X per litre in 2017; however, from 2018 to 2022, the export prices failed to regain momentum.

There were significant differences in the average prices for the major external markets. In 2022, amid the top suppliers, the country with the highest price was the Netherlands ($X per litre), while the average price for exports to Chile ($X per litre) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Panama (+4.8%), while the prices for the other major destinations experienced mixed trend patterns.

Grape Wine Spirits Imports

Imports into Colombia

In 2022, grape wine spirits imports into Colombia shrank rapidly to X litres, dropping by -20.4% compared with the previous year. Overall, imports showed a pronounced curtailment. The growth pace was the most rapid in 2014 when imports increased by 247%. As a result, imports attained the peak of X litres. From 2015 to 2022, the growth of imports remained at a lower figure.

In value terms, grape wine spirits imports fell remarkably to $X in 2022. Over the period under review, imports, however, enjoyed a tangible increase. The growth pace was the most rapid in 2014 when imports increased by 248%. As a result, imports attained the peak of $X. From 2015 to 2022, the growth of imports failed to regain momentum.

Imports by Country

Panama (X litres), Spain (X litres) and Peru (X litres) were the main suppliers of grape wine spirits imports to Colombia, together comprising 73% of total imports. These countries were followed by France, Free Zones, Chile and the Netherlands, which together accounted for a further 26%.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Free Zones (with a CAGR of +13.2%), while imports for the other leaders experienced more modest paces of growth.

In value terms, France ($X) constituted the largest supplier of spirits obtained from distilled grape wine or grape marc to Colombia, comprising 60% of total imports. The second position in the ranking was held by Peru ($X), with a 13% share of total imports. It was followed by Panama, with a 12% share.

From 2012 to 2022, the average annual rate of growth in terms of value from France stood at +14.7%. The remaining supplying countries recorded the following average annual rates of imports growth: Peru (+0.6% per year) and Panama (-11.3% per year).

Import Prices by Country

In 2022, the average grape wine spirits import price amounted to $X per litre, approximately reflecting the previous year. Over the period under review, the import price, however, enjoyed buoyant growth. The growth pace was the most rapid in 2020 an increase of 42%. As a result, import price attained the peak level of $X per litre. From 2021 to 2022, the average import prices failed to regain momentum.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was the Netherlands ($X per litre), while the price for Free Zones ($X per litre) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the Netherlands (+38.8%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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